Tuesday, July 31, 2012

Corelogic: Colorado has 6th-lowest foreclosure inventory rate

Corelogic released today its June 2012 report on completed foreclosures and foreclosure inventory. According to the report, the foreclosure inventory in the US was 3.4 percent of mortgages during June 2012, which was down 0.1 percent from June 2011.

In Colorado, the foreclosure inventory was 1.4 percent of all mortgages, making Colorado tied for the 6th-lowest foreclosure inventory rate in the nation. Only Alaska, North Dakota, South Dakota,Wyoming and Nebraska had foreclosure invetory rates that were lower. Colorado was tied at 1.4 percent with Missouri, Virginia, Montana, and West Virginia.

Florida had the highest foreclosure inventory rate in the nation at 11.5 percent during June.

Corelogic listed the number of completed foreclosures in Colorado over the past 12 months at 18,898 which compares fairly closely with annual totals collected by the Colorado Division of Housing. There were 19,622 completed foreclosures during the 12 months of 2011.

The Denver-Aurora-Broomfield metro area was again lowest among all metros in its foreclosure inventory during June. 1.4 percent of all loans with mortgages were in foreclosure in the Denver area. In Chicago, the rate was 6.0 percent and in Nassau-Suffolk, New York, the rate was 6.8 percent.